Energy Vault Holdings Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Energy Vault Holdings Inc (NRGV) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Energy Vault Holdings Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 226M vs 106,466M combined for tracked competitors (0.2% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-69.2% annualized vs trailing 12 months), vs accelerating (+8.8%) for its tracked peer group.
- Growth: Energy Vault Holdings Inc generated 104.1% revenue growth year over year in Q2 2026, vs 25.3% for its tracked competitors combined.
- Profitability: Its -171.0% net margin compares with 2.3% for the peer group.
- Scale: Energy Vault Holdings Inc ranks #67 of 143 companies by market capitalization in the Industrial Machinery and Components industry, holding 0.0% of industry market cap.
- Peer revenue share: Energy Vault Holdings Inc accounted for 0.1% of combined revenue among its tracked peer group, up from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $1.53M compares with $0.78M for the peer group (2.0x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
NRGV Sales vs. its Competitors, Q2 2026
Energy Vault Holdings Inc reported revenue growth of 104.05 % year on year in Q2 2026, above its competitors' combined revenue growth of 25.27 %.
With a net margin of -170.95 %, Energy Vault Holdings Inc reported lower profitability than its competitors (2.34 %).
Energy Vault Holdings Inc generated 0.06 % of the combined sales of its peer group, up from 0.04 % a year earlier.
Energy Vault Holdings Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Energy Vault Holdings Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Energy Vault Holdings Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Energy Vault Holdings Inc's competitor groups requires a Commercial License.
For context: the Industrial Machinery and Components industry grew revenue 12.4% year over year, combined, vs 104.1% for Energy Vault Holdings Inc. Energy Vault Holdings Inc's share of combined industry revenue moved from 0.01% to 0.01%, a gain of 0.01 percentage points.
Energy Vault Holdings Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Energy Vault Holdings Inc | No | Yes | Yes | No |
| Competitors combined (3) | ||||
| High-Confidence Competitors (6) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 12.50 % (1 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
NRGV Stock Performance relative to its Competitors
NRGV Stock Performance relative to High-Confidence Competitors
NRGV Stock Performance relative to Similar-Size Competitors
NRGV Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Tesla Inc | 282.9% | Outperformed |
| 2 | Fluence Energy Inc | 282.9% | Outperformed |
| 3 | Eos Energy Enterprises Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Energy Vault Holdings Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Energy Vault Holdings Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Energy Vault Holdings Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Energy Vault Holdings Inc | 722.50 | 225.87 |
| Tesla Inc | 1,265,373.00 | 103,619.00 |
| Eos Energy Enterprises Inc | 1,043.18 | 215.00 |
| Fluence Energy Inc | 1,035.97 | 2,632.43 |
| SUBTOTAL | 1,268,174.65 | 106,692.31 |
Sources: Energy Vault Holdings Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Energy Vault Holdings Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Energy Vault Holdings Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Eos Energy Enterprises Inc | Named by the company | 85% |
| Tesla, Inc. | Named by the company | 85% |
| Fluence Energy, Inc. | Named by the company | 85% |
| Powin Energy Corp. | Named by the company | 85% |
| Gravitricity Ltd. | Named by the company | 85% |
| Primus Power | Named by the company | 85% |
| ESS Inc. | Named by the company | 85% |
| Hydrostor Inc. | Named by the company | 85% |
| Pioneer Power Solutions Inc | Named by the company | 85% |
| Form Energy, Inc. | Named by the company | 85% |
| Sungrow Power Supply Co Ltd. | Named by the company | 85% |
| FlexGen Power Systems, Inc. | Named by the company | 85% |
| Eos Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Energy Vault Holdings Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Energy Vault Holdings Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Energy Vault Holdings Inc | Reportable 100.00 % |
| Tesla Inc | Automotive 88.88 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Energy Vault Holdings Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Energy Vault Holdings Inc | 722 | 1,526,169 | -741,412 |
| Tesla Inc | 1,265,373 | 768,772 | 28,668 |
| Eos Energy Enterprises Inc | 1,043 | 273,193 | -1,487,713 |
| Fluence Energy Inc | 1,036 | 1,576,305 | -67,090 |
| PEERS TOTAL | 1,267,452 | 775,757 | 18,807 |
Energy Vault Holdings Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Tesla Inc | United States 46.78 % |
| Eos Energy Enterprises Inc | United Kingdom 51.06 % |
| Fluence Energy Inc | Americas 50.52 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Energy Vault Holdings Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 128 companies in Energy Vault Holdings Inc's industry classification, broader than the peer set above. Market cap in millions of $.Energy Vault Holdings Inc ranks #67 of 128 companies by market capitalization in its industry, holding 0.03 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,546, indicating a moderately concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Asml Holding Nv | 683,986 | 31.64 % |
| 2 | Lam Research Corporation | 396,692 | 18.35 % |
| 3 | Deere and Co | 185,991 | 8.60 % |
| 4 | Eaton Corporation Plc | 171,770 | 7.95 % |
| 5 | Cae Inc | 1,234 | 5.2% |
| 6 | Bloom Energy Corporation | 1,234 | 5.2% |
| 7 | Illinois Tool Works Inc | 1,234 | 5.2% |
| 8 | Carrier Global Corporation | 1,234 | 5.2% |
| 9 | Ingersoll Rand Inc | 1,234 | 5.2% |
| 10 | Nvent Electric Plc | 1,234 | 5.2% |
| 67 | Energy Vault Holdings Inc | 756 | 0.03 % |
Market cap and industry share for the rest of Energy Vault Holdings Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Energy Vault Holdings Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 62 | Tennant Co | 1,167 | -14.67 % |
| 63 | Fuelcell Energy inc | 1,126 | 103.05 % |
| 64 | Eos Energy Enterprises Inc | 1,033 | -71.01 % |
| 65 | Fluence Energy Inc | 1,026 | -36.66 % |
| 66 | Graham Corporation | 1,234 | 12.3% |
| 67 | Energy Vault Holdings Inc | 756 | 32.92 % |
| 68 | Kornit Digital Ltd | 1,234 | 12.3% |
| 69 | Ballard Power Systems Inc | 1,234 | 12.3% |
| 70 | Enovix Corporation | 1,234 | 12.3% |
| 71 | Solid Power Inc | 1,234 | 12.3% |
| 72 | Twin Disc Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Energy Vault Holdings Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Energy Vault Holdings Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Industrial Machinery and Components industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (166 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 22.47 % | 28.58 % (avg) | -6.1 pp |
| Operating Margin | -32.84 % | industry median | -38.5 pp |
| EBITDA Margin | -42.59 % | 3.86 % (avg) | -46.5 pp |
| Capital Intensity (Capex / Revenue) | 19.25 % | 5.98 % (avg) | +13.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Energy Vault Holdings Inc's Valuation vs Competitive Position
Valuation multiples vs the Industrial Machinery and Components industry average (166 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 33.3x | - |
| EV / EBITDA | - | 19.5x | - |
| P/B | 16.6x | 4.0x | +12.6x |
| Return on Equity | -236.84 % | industry aggregate | -252.50 % |
| Return on Invested Capital | -27.18 % | 1.28 % (avg) | -28.46 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Energy Vault Holdings Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue Growth | - | - | - | 134.12 % | -86.90 % | 353.72 % |
| Operating Margin | - | - | -43.24 % | -31.25 % | -290.53 % | -36.63 % |
| Return on Invested Capital | - | -0.44 % | -10.13 % | -21.75 % | -36.11 % | -29.27 % |
| P/E | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Energy Vault Holdings Inc's Strategic Group Map
Every company in Energy Vault Holdings Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Energy Vault Holdings Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Energy Vault Holdings Inc's BCG Growth-Share Matrix
Relative market share (vs Energy Vault Holdings Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Energy Vault Holdings Inc falls in the Dog quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue 7.4% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Energy Vault Holdings Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,546 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 19.25 % vs industry average 5.98 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Energy Vault Holdings Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Energy Vault Holdings Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Energy Vault Holdings Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Energy Vault Holdings Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Energy Vault Holdings Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Operating margin 38.5 points below the industry median.
- Return on equity 252.5 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-69.2% annualized vs trailing 12 months).
- Low relative market share vs the industry leader (0.00x).
Opportunities
No rule matched.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Energy Vault Holdings Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Energy Vault Holdings Inc | 0.44 | 0.92 | 3.77 |
| Tesla Inc | 0.50 | 2.05 | 0.03 |
| Eos Energy Enterprises Inc | 2.53 | 3.78 | - |
| Fluence Energy Inc | 0.36 | 1.44 | 0.79 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Energy Vault Holdings Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Energy Vault Holdings Inc | Q2 2026 | +104.1 % | - |
| Tesla Inc | Q2 2026 | +25.5 % | -5.2 % |
| Eos Energy Enterprises Inc | Q2 2026 | +357.1 % | - |
| Fluence Energy Inc | Q2 2026 | +7.9 % | - |
| PEERS TOTAL | +25.3 % | -29.1 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Energy Vault Holdings Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Energy Vault Holdings Inc | Q2 2026 | +100.0 % | +8.8 % |
| Tesla Inc | Q2 2026 | +26.1 % | +142.1 % |
| Eos Energy Enterprises Inc | Q2 2026 | +155.6 % | +403.0 % |
| Fluence Energy Inc | Q2 2026 | +20.2 % | -28.3 % |
Energy Vault Holdings Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Energy Vault Holdings Inc | - | - | - |
| Tesla Inc | 2.74% | 3.60% | 4.63% |
| Eos Energy Enterprises Inc | - | - | - |
| Fluence Energy Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Energy Vault Holdings Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Energy Vault Holdings Inc | - | 3.20 |
| Tesla Inc | 330.97 | 12.21 |
| Eos Energy Enterprises Inc | - | 4.85 |
| Fluence Energy Inc | - | 0.39 |
| PEERS AVERAGE | 513.14 | 11.89 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.